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Applied Minerals cites five potential opportunities worth up to $19 million in revenue

The Brooklyn-based company is a leading global producer of Halloysite clay, which sells under the trade name DRAGONITE

Utah
Applied Minerals owns the Dragon Mine in Utah to produce its flagship halloysite clay

Applied Minerals Inc (OTCMKTS:AMNL) announced Wednesday it is working on five potential business opportunities that could generate up to $19 million in revenue.

The Brooklyn-based company is a leading global producer of Halloysite clay, which sells under the trade name DRAGONITE. Halloysite clay is used in everything from a fire-retardant additive to fertilizers and pesticides to a key material in lithium-ion batteries.

In an update to shareholders, Applied Minerals provided a description of the potential opportunities in its pipeline for various uses of its flagship DRAGONITE product.

The potential business could be worth anywhere between $11.7 million to $18.7 million in revenue, if successfully developed and commercialized, according to a statement.

READ: Applied Minerals taps industry veteran Sharad Mathur as chief technology officer

Here’s the list potential opportunities:

Catalytic cracking catalyst additive 

A large specialty chemical company is currently evaluating the use of DRAGONITE as an additive for improved performance of a fluid catalytic cracking catalyst.

Corrosion inhibitor for coatings 

A leading supplier of architectural paints and coatings is near completion of a 15-month evaluation of DRAGONITE as a replacement for an organic corrosion inhibitor currently being used in an exterior line of paint.

Improved barrier properties in polymer films 

DRAGONITE has been shown to improve the barrier properties of polymer films such as those used in food packaging applications. A large domestic producer of polymer films is scheduled to evaluate DRAGONITE later this month.

Reduction of thermal conductivity of oil well cement 

Third-party developmental work has shown how DRAGONITE can significantly reduce the thermal conductivity of oil well cement without impairing its compressive strength. The company said this technology has particular applicability in oil sands drilling.

Lithium-ion battery materials 

Management is pursuing the development of halloysite-derived silicon and silicon oxide for use as anode material. The results of preliminary testing carried out on silicon oxide derived from DRAGONITE have justified additional evaluation work by a battery manufacturer.

Applied Minerals owns the Dragon Mine in Utah to produce the halloysite clay — the only deposit in the western hemisphere big enough for large-scale commercial production.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Applied Minerals, Inc.

Price: 0.0071 USD

OTCMKTS:AMNL
Market: OTCQB
Market Cap: $1.25 m
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Applied Minerals brings on industry vet Sharad Mathur as chief technology...

Applied Minerals Inc (OTCQB:AMNL) sales director Brian Newsome tells Proactive Investors the company that specializes in Halloysite clay production has appointed senior industry veteran Dr. Sharad Mathur as its new chief technology officer. Newsome says Mathur will lead the company's...

on 01/31/2019

2 min read